A stand of redwood trees is not an example of a factor of production but the harvested and processed redwood is a factor of production.

Question

Quizplus · Accepted Answer

A stand of redwood trees can be considered a natural resource, which is not classified as a factor of production. However, once the trees are harvested and processed into lumber, the resulting product becomes a factor of production.

A Stand of Redwood Trees Is Not an Example of a Factor